Copper Prices Supported by Supply Concerns

AI Summary

Copper futures remain near record highs above $6.6 per pound, supported by tightening global inventories and supply risks in Chile. Operations at Codelco’s El Teniente mine’s Andes Norte section may be suspended for up to two years, exacerbating supply constraints.

Copper futures held above $6.6 per pound on Thursday, remaining close to record highs as tightening global inventories and persistent supply risks in top producer Chile continued to support prices. Development at the Andes Norte section of Codelco’s flagship El Teniente mine could remain suspended for as long as two years, adding to supply tightness ...